River Island homeowners ‘drawing up rescue plan’ in blow to UK excessive road | UK | News | EUROtoday
River Island’s homeowners are reportedly drawing up a radical rescue plan that might put a number of shops and jobs in danger in what can be one other main blow to the UK excessive road.
The widespread retailer – one in all Britain’s best-known clothes chains – operates round 230 shops throughout the nation, using some 5,500 folks. But Sky News is reporting its homeowners have drafted in advisers from PricewaterhouseCoopers (PwC) to plot a proper restructuring plan. The proposals are topic to sign-off and might be finalised within the coming weeks, with sources insisting any particular determination’s over River Island’s future have but to be taken.
In the newest filings to Companies House, River Island Holdings Limited mentioned trend retail was a “fast changing” market with “increasing competition especially in the digital space”.
The submitting continued: “The key business risks for the group are the pressures of a highly competitive and changing retail environment combined with increased economic uncertainty.
“A lot of geopolitical occasions have resulted in persevering with provide chain disruption in addition to vitality, labour and meals worth will increase, driving inflation and rates of interest larger and leading to weaker disposable earnings and decrease client confidence.”
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https://www.express.co.uk/news/uk/2065582/river-island-rescue-plan-uk-high-street